Dolby Labs Q3 improves
August 4, 2023
By Chris Forrester
Dolby Labs has reported its Q3 numbers with revenue of $298.4 million (€272.7m). up from $289.6 million on the same period last year. However, cash flow from operations fell to $121.1 million from $172.6 million last year.
“We continue to transform the way people enjoy their content,” said Kevin Yeaman, President and CEO, Dolby Labs. “We remain focused on growing Dolby Atmos and Dolby Vision across our movies and TV, music and user-generated content ecosystems.”
As for year overall and general guidance, Dolby said its total revenue is expected to range from $1.285 billion to $1.315 billion. Operating expenses are anticipated to range from $900 million to $910 million on a GAAP basis and from $760 million to $770 million on a non-GAAP basis.
Dolby expects its Q4 trading to see revenues range from $275 million to $305 million.
Dolby’s recent business expansions include:
· Dolby Atmos Music is now available on WYNK Music in India.
· Max launched their top-tier service with Dolby Atmos and Dolby Vision.
· Moj, a large social media platform in India, adopted Dolby Vision.
· NIO and Lotus launched car models that support Dolby Atmos in Europe.
· Sony Interactive Entertainment announced that the PS5 will unlock support for compatible Dolby Atmos-enabled living room devices.
· TCL announced they are expanding Dolby Vision and Dolby Atmos on their regional TV models in India.
· Viddsee, a short-film video platform based in Singapore, adopted Dolby Vision and Dolby Atmos.